Note from the Chairman, Executive Committee
Dear Owners,
This Newsletter provides information about Golfe Santo Antonio (GSA), information about payment of your Community & Urbanisation (C&U) charges, and the plans for this year’s Annual General Meeting (AGM).
Golfe Santo Antonio (GSA)
It is no surprise to anyone that the revenues into GSA are significantly lower this year than previously, but the cost base remains pretty constant – resulting in difficult trading conditions.
Meetings have been held with the accountant, Dra. Alexandra Carapinha and the Judicial Administrator, Dr. Carlos Inácio to address the financial status of GSA and to assess its ability to keep trading in these difficult times, and the legal aspects of the assets of GSA with a view to future purchase, potentially by an Owners’ Consortium.
Monthly salaries have been paid up-to-date and they are able to meet the September payroll. GSA will remain cash flow positive if everyone pays their bills in a timely manner. Across the Resort there is over 600,000 Euros in outstanding invoices to Owners where GSA have completed works or services but the Owners have yet to pay.
Community & Urbanisation (C&U) Charges
It is extremely important that Owners continue to pay in a timely manner (for QDM, this is monthly in arrears), and for those of you who are in arrears with their C&U charges please pay. If you are not sure if you owe money to GSA, then please check with Jorge Ricardo (community.services@saresorts-gsa.com).
Please remember that we are paying for services that have already been provided, and that we continue to closely monitor the provision of those services through our quarterly check-list and regular contact with GSA.
Previously, as we pay monthly in arrears, GSA have normally requested payment of the C&U charges in the first week of the next month. In order to assist GSA, we have agreed that the request be made to Owners on the last Friday of each month (so the request for September will be made on the 25th September).
If you have a dispute with GSA about the C&U charges then please communicate with Jorge Ricardo (community.services@saresorts-gsa.com) to try and resolve it. If you require any supporting information to help resolve it then please feel free to ask the OA.
It continues to be our preference to work with GSA, for GSA to continue as long as possible; it is in all of our interests and of the GSA staff.
If GSA is unable to continue operations at some future point, please be assured that the OA has a contingency plan ready that has been agreed by the Committee.
COVID-19 Information
The Safe Communities Portugal web site is an authoritative location for all the latest information relating to, for example, masks, social gatherings, shops, cafés, restaurants and beaches.
www.safecommunitiesportugal.com
Annual General Meeting (AGM)
From September 15th, Portugal is now in a “State of Contingency”. One of the requirements from this State is that the maximum number of people that can meet as a group is 10. As a result, in the October/November timeframe, when we have a number of Committee members present at QDM, we will arrange for a meeting.
In order that the meeting has a quorum, members will be invited to send their proxies to one of the attendees. This will enable the meeting to review and approve the necessary reports (Chairman’s Report and Fiscal Board Report) and the accounts.
All of the information will be forwarded to the members in the required timeframe prior to the meeting.
Please feel free to provide any comments to a member of the Committee. The e-mail addresses are available on the OA web site – www.qdmoa.org.
Finally, on behalf of the Committee, let me wish you all a safe and healthy months ahead.
Best regards
David Murphy
Chairman, Executive Committee
September 2020